Essex Realty Group, Inc. is proud to announce the sale 3922 W 115th Place, a twelve (12) unit apartment building consisting of two (2) 1Bd/1Ba and ten (10) 2Bd/1Ba units. The property sold within 60 days of going under contract and at a record price per unit for the city of Alsip.
The Property provides an investor with the opportunity to acquire a fully occupied multifamily asset in Alsip with stable cash flow. Additionally, one can increase rents between $50-75 per month through minor cosmetic updates to the units.
Recent improvements to the property include a new intercom system (2018), new gutters and a new tear-off pitched roof (2017).
Located approximately 15 miles south of Chicago, Alsip encompasses just under 6.5 square miles and is bordered by Oak Lawn to the north, Crestwood to the south, Palos Heights to the west, and Blue Island to the east.
The subject property sits around the corner from Mt. Greenwood Park and about a quarter mile away from Marist High School, in addition to being across the street from a variety of retail shops located on Pulaski Road.
- Well maintained 12-unit apartment building
- Unit mix: (2) 1Bd/1Ba & (10) 2Bd/1Ba units
- New vinyl windows, tear-off roof, and intercom system in last few years
- Same ownership for last 20+ years
- Value-add opportunity